PRICES: New Reasons for Weariness

Inflation has become such a fact of life in
the U.S. that many Americans have simply become resigned to it. The
weary mood intensified last week with two bits of news: wholesale
prices rose at a clip that threatened soaring prices for manufactured
goods in months to come, and Ford Motor Co. raised prices on its
1974-model cars and truckseven though it had signed an agreement not
to do so. The Government's soon-to-be-defunct Cost of Living Council
seemed powerless to stop the rise. Only the Federal Energy
Administration appeared capable of vigorous anti-inflationary action.
It accused Gulf Oil Corp....